Gold Falls as Investors Await Fed Minutes and Possible Rate Hike by December

Gold prices slipped slightly on Wednesday as investors awaited the release of the U.S. Federal Reserve's September meeting minutes, seeking clues about the future path of interest rates.

Spot gold fell 0.3% to $4,150.23 an ounce, while U.S. gold futures slipped 0.2% to $4,177.60.

Markets are looking to the minutes to gauge how inclined policymakers are to continue raising interest rates, at a time when traders' expectations point to an 85% probability of a rate increase by December.

Higher interest rates typically put pressure on gold, which is a non-yielding asset, by making yield-bearing assets more attractive.

Among other precious metals, spot silver fell about 1% to $61.12 an ounce, platinum rose 0.2% to $1,704.25, and palladium dropped 0.3% to $1,168.20.